Emory University Agrees to Pay $16.75 Million to Settle Case Filed by Schlichter Bogard on Behalf of Retirement Plan Participants
June 5, 2020 – On May 29, plaintiffs represented by Schlichter Bogard & Denton jointly moved for preliminary approval of a proposed settlement on behalf of participants in Emory University’s 403(b) retirement plans.
The proposed settlement terms include the creation of a $16.75 million fund for plan participants as well as substantial non-monetary relief, requiring, among other things, that the defendants seek bids for recordkeeping fees, prohibit the use of confidential participant data by recordkeepers, hire an independent consultant to make recommendations regarding plan investments, and inform plan participants of changes to plan structure.
Schlichter Bogard & Denton senior partner Jerry Schlichter says that these changes will “enable Emory employees and retirees to improve their ability to build their retirement assets for many years to come.” To read about other high-impact cases handled by Schlichter Bogard & Denton, click here. For additional information about Schlichter Bogard & Denton’s Financial & Retirement practice, please contact us at 800-873-5297 or sbd@uselaws.com.
